Building the burrow, one shovel at a time.

My_Lovely_Carrot

Well, I have been a member on here for a few years, (under a different name) and have previously overpaid our mortgage and previously to that paid off £30K of debt. We moved mid Feb, as we needed more space due to children unable to share rooms and finding the perfect little bit of paradise which is so peaceful and friendly.

A bit about my family, I am now a stay at home mum after retiring from the Army, my husband is very rarely here, as he works abroad most of the year. I have 4 children, 3 boys 18, 14, 9 and a girl aged 8. My eldest and youngest boy have Autism/ADHD as well as other special powers. .

I have over the last 3 years paid down the last house mortgage, so that we could move to a lovely new build, (no DIY, for DH. He is delighted). We have had to buy quite a bit of furniture, due to buyer wanting all mine, so have been busy buying some new bits but now that's done, time to plan the pay down.

So, my mind has turned again to overpaying, as well as building up an emergency fund. I have just paid for plantation shutters and garage conversion for older boys bedroom, so now cleaned out :rotfl::rotfl:.

I am hoping to pay this off in 9 yrs, as DH is 65 yrs in 18 yrs time and that is the length of current borrowing. By starting a new diary, it will focus me.

House sold for £165K
New House £220K
New mortgage £158K

Newbury Building Society 3 yr tracker on 2.79%, hope the gamble pays off by not fixing, but wanted the freedom to pay off chunks again.

Lovely to be back.

My_Lovely_Carrot

Have decided to update on a Saturday, as I can list my spends once a week and note savings as I go along.

Sainsbury £104.63 (weekly shop for 5)
WJEC (Welsh exam board) past Maths/English exam papers for DS1 £8.80

No spend days 5

Next weeks Sainsbury's shop will be the last, as I used to collect points to spend in Argos at Christmas but from next weekend their points have dropped off a cliff. Lidl is just 4 streets away and almost all of the kids are back in school, so no need now for home delivery.:T Do have a voucher for £10 off a £70 shop, so will use that for joint of meat for next weekend.:)

Need to rebuild emergency fund, pronto, due to paying out for garage conversion and shutters for new house. This is really important as DH is a contractor and only gets paid whilst working.

Emergency fund needed £12K:eek:

Have spoken to Building Society and we are able to overpay by debit card, cheque or standing order. I will probably enjoy paying by debit card, as it's more like shopping and will give me the buzz of spending.

I used to be a spendaholic to get that buzz but worked out a couple of years ago that OP the mortgage gave me that feeling. Just a shame I can't see the figures going down like I used to with internet banking on HSBC. I am useless at spreadsheets.

So this is the way forwards :money:

ourcornercottage

Good luck with your plans. Good idea to post every Saturday as I tend to post daily and it has zero structure! It's just my ramblings really!

If you post some details of your outgoings you will get some great tips where you can save money. I am OPing every month and I think I have managed to achieve about £100 a month or more savings (that go to OPs) from tips on here to reduce my monthly bills without changing what I'm getting for my money! For example I thought I had a great buildings and contents policy but someone on here pointed out I was paying triple what I should be saving me £300 per year!!! It's exactly the same policy for goodness sake!

My_Lovely_Carrot

Thanks, OCC for dropping in. I do have to review now we have moved, our insurances, utilities and this is in progress. I follow quite a planned spending diary/budget, which has stood us well since clearing £30 K of debt and £30 K of OP in the last 5 yrs.

Having checked the larder and fridge, we should not need to fill it till mid next week and I only have 2 for packed lunches and 1 on parentpay school meals. My third boy has still not received a school place since we have moved and has currently missed a whole term of learning. Apparently every place for an ASD child has been filled in this county!!!!!. Have phoned today but skeleton staff in so have to wait till Monday to see if he has somewhere to go. I wonder if I can fine the county council for my child not being in school. :mad:

Needless to say, I'm a bit knackered.

Spends so far this week, (post them now because I realize I will probably forget by weekend)

£13.99 Hobbit film on Sky movies. (kids have been desperate for this one, Sky is our only indulgence due to children not going out much). They get a DVD copy in the post as well)
Trainers and sun hat for DD, £38.
Window cleaner £8 (front and back)

I already have 9K, put aside for the garage conversion and blinds (the deposits have already been paid). Hopefully eldest with ASD will have his own room by end of May.

My OP will be small till July, when I should have the EF completed and start OPing .

EF £500/£12K

My_Lovely_Carrot

Well ups and downs this week, but at least the weather is glorious and I have now an excuse for that lovely bowl of ice cream.

Lidl shopping £118.69 (for 5), not bad but Sainburys were obviously missing me and set a £15 voucher for an online shop, so have used that for shopping next week, it would have been rude not too. (already ordered).

We had to sort our house insurance out before completion and moving in and that was £120.00 for the year but our contents insurance has just come up for renewal so phoned policy expert and got a really good quote with Axa for £65.01 (for the full year), luckily we have over 10 yrs no claims. (:money:)

Received new council tax bill for new build :eek: . We have gone from a band D in our old county to a band F in our new one, a difference of over £800 a year, (South Wales to Mid Wales). Similar sized property but because we paid £220K for our new one and our old one was £140K in 2005. We owed a bit from last finanial year due to moving in Feb, (£245.10) and them not sending out a bill till this week, so paid £777.56 straight away and have arranged to pay 3 more direct debits for £532.49 over May, June and July, (£532.48). Total £2129.93 :eek:. i try to pay the council tax, house and contents insurance asap because it then makes it easier to work out what I can save for the rest of the year, and it makes me feel more secure as it's a priority bill and DH is a contractor.

On a brighter note, the surveyor has been to complete paperwork for garage conversion and DH is travelling home tomorrow, it's a long, 3 plane, 3000 mile trip and the kids are very excited. :j

On the savings front, I am currently at 3500 towards my EF of 12K, should have this by mid Jun/ begin Jul and then we can start to OP. :T

£3500/12000 EF

Luckyinlife

Very motivational stuff great work :] council tax is crazy sometimes

Must be hard with DH away so much at time how least hes home soon :]

Firegirl

June/July not far away for overpaying! Good luck!!!

My_Lovely_Carrot

Well, I'm back after raising the EF and that is now in my signature. I set up a standing order for a regular monthly OP for £1068.70, this will be my normal OP, (first one paid 14/01/16). My normal mortgage payment is £931.30 on a rate of 2.79%. We moved house last Feb (last mortgage balance £90K, new house £220K) and have completed garage conversion and wall between living room and diner, but will now be having a wall removed between the kitchen and dining room and some plumbing and electrical work changed, so hope to balance the books a little as I go.


I did this previously under my old user name and hope that now the first payment has gone it will settle into a routine again. So have joined the MFit T4 challenge but know it won't be gone that quick, but it would be nice to see it gone in 7 yrs, (just in time for DH 55 birthday).


So, nice to be back with a plan of action.

My_Lovely_Carrot

Well, this months standing order has gone out yesterday and I called at 9am to check and ask for an updated mortgage balance and the letter has just arrived.

So happy, now down in the 140K's, £149,499.50 to be precise. .
I will try to wipe off the £499.50 by the end of this month, as I love round numbers but we are currently having building work.

Regular standing order seems to be running smoothly and Newbury Building Society are very good at sending the mortgage balance out by post, (next day).

LTV 67% :T

jodles16

Hello! Can tell you have been here before you are on the ball and know what to do! Best of luck on your journey, love the name!!

Jodles

My_Lovely_Carrot

Well, paid the standing order yesterday and received my BS letter this afternoon, so another £1068.70 paid off. So with normal monthly payment and op, new balance is £147,849.11.:j

I would of liked to of paid the odd £499.50 last month but had to buy the floor tiles for the ground floor. Tilers due in next Monday and that's payday for my husband and the start of the next pay month for me.

Just a note to me:

MFiT - t4 Nr 37
2016 MFW Nr 65


Ok, so that's me for this month as I have a few expenses coming up over the next month. Regular payment again 14/04/2016.